Allegiance Financial Group Advisory Services LLC Reduces Holdings in GE Aerospace $GE

Allegiance Financial Group Advisory Services LLC lowered its position in shares of GE Aerospace (NYSE:GE) by 2.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,701 shares of the company’s stock after selling 103 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in GE Aerospace were worth $953,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GE. Ameriflex Group Inc. raised its position in shares of GE Aerospace by 23.5% in the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after purchasing an additional 331 shares in the last quarter. Smartleaf Asset Management LLC increased its position in GE Aerospace by 17.1% in the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after buying an additional 1,201 shares during the period. Rainey & Randall Wealth Advisors Inc. bought a new position in shares of GE Aerospace in the first quarter worth $203,000. Concurrent Investment Advisors LLC grew its stake in shares of GE Aerospace by 25.1% in the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after purchasing an additional 8,245 shares in the last quarter. Finally, Global Assets Advisory LLC grew its stake in shares of GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after purchasing an additional 9,580 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Up 0.3%

Shares of GE stock opened at $302.56 on Thursday. The stock’s 50 day simple moving average is $282.43 and its 200 day simple moving average is $245.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $307.25. The company has a market capitalization of $320.85 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 3.25 and a beta of 1.49.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the business earned $1.20 EPS. The firm’s revenue was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, research analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s payout ratio is currently 20.08%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday. Zacks Research lowered GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Wells Fargo & Company raised their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $350.00 price objective on shares of GE Aerospace in a research report on Wednesday. Finally, Citigroup reaffirmed a “buy” rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average price target of $251.31.

About GE Aerospace

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.